- Total project mineral resource of 2.0Mt @ 2.5% Ni containing 50,000t of Ni in three deposit.
- 95% of nickel metal content in Indicated Mineral Resource category
- High grade zones total 500,000 tonnes grading 4.6% nickel across the three deposits
- Mineralisation open at depth and along strike
Nickel Mineral Resource
The Fisher East nickel province was discovered by Rox in December 2012. Since then a number of open ended nickel sulphide discoveries have been made with mineral resources defined at Camelwood, Cannonball and Musket of 2.0 million tonnes at 2.5 percent nickel containing 50,000 tonnes of contained nickel. Indicated resources account for 95% of the total resource.
A Scoping Study conducted on this mineral resource concluded that the project was low technical risk and financially viable at “normal” nickel prices. A pre-feasibility level mining study confirmed the operating costs would be similar to other nickel sulphide mines in Western Australia.
There is strong potential to increase the mineral resources as the company follows up a number of high priority targets, at the Sabre, Mt Tate and Horatio prospects. With the Camelwood, Musket and Cannonball deposits remaining open at depth and excellent targets elsewhere along the ultramafic belt, the company will continue to explore to increase the resource base and assess its development options.
Option to Purchase
Rox has an Option to Purchase Agreement over two tenements at Mt Fisher and Fisher East, one with gold potential, and one with nickel potential. The outstanding term of the Option Agreement to acquire 100% of the tenements is; a) Exercise price of $600,000 payable by 30 June 2018. For further information on the terms of the agreement, refer to the ASX Announcement by clicking here.